Pengaruh Tingkat Inflasi, Tingkat Suku Bunga Dan Nilai Tukar Rupiah, Terhadap Return Saham Pada Perusahaan Manufaktur Sub Sektor Makanan Dan Minuman Yang Terdapat Di Bursa Efek Indonesia Tahun 2016-2020

Abstract

This study aims to determine the effect of inflation rate, interest rate and rupiah exchange rate on stock returns in manufacturing companies in the consumer goods industry sector, food and beverage sub-sector listed on the Indonesia Stock Exchange in 2016-2020. The sample in this study used the purposive sampling method, namely sampling with consideration of the criteria set by the
researcher. The object of research is as many as 14 companies. Based on statistical analysis, it can be concluded that partially the inflation rate has no effect on stock returns in the companies studied, this is proven by the tcount value of 0.645 < t table value of 1.9966 and significant value of 0.521 <0.05. Partially the interest rate has no effect on stock returns, this is evidenced by the tcount value is 0.588 < t table value 1.9966 and the significant value is 0.559 > 0.05. Partially, the rupiah exchange rate has no effect on stock returns, this is proven by the tcount value is -0.804 < t table 1.9966 and the significant value is 0.425 > 0.05. Simultaneously the inflation rate, interest rate and rupiah exchange rate affect stock returns with an Fcount of 1.683 < F table 2.74 with a significance of 0.181 < 0.05. The results of the coefficient of determination test (R^2) the Adjusted R Square value was obtained at 3.4%, while the remaining 96.6% was influenced by other variables. Such as gross domestic product, money supply, earnings per share and debt to equity ratio.